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Gate Square New & Returning Creator Rewards are ongoing!
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The Math On Elon's Twitter Deal Isn't Pretty
Elon Musk dropped $44 billion on Twitter back in October 2022, paying $54.20 per share to take it private. Sounds like a power move, right? Not so much.
Fast forward to now: Fidelity values X at just $9.4 billion — that’s a 78.6% nosedive from the purchase price. If you’d bought $1K of Twitter stock before the takeover and miraculously kept your shares, you’d be sitting on around $495 today. Ouch.
Why the bloodbath? Advertisers are bailing (26% of marketing firms planning cuts on X specifically). Trust issues + the controversial direction under Musk haven’t helped. Add in the fact that Musk is juggling Tesla, SpaceX, Boring Company AND the new Department of Government Efficiency — X’s not exactly getting his A-game attention.
The plot twist: Musk’s betting big on turning X into a fintech hub with AI features, trying to become the “everything app.” Whether that saves the valuation? Nobody knows yet. But current shareholders are definitely sweating.